Why is it important to perform ample Anti-Money Laundering Searches?

Posted: 08/09/2011

Are you still only taking copies of passports, driving licenses and bank statements?

Unfortunately this is not complying with the Money Laundering Regulations.

From the 15th December 2007 regulated firms are required to implement a risk based approach to CDD (Customer Due Diligence) and failing to do so may result in a fine, prison term of up to 2 years or being struck off.

We at Pali have teamed up with AML Search who are one of the leading money laundering experts and we have incorporated a direct link to their system meaning you can now order your Anti-Money Laundering Searches online through the regular Pali system at the same time as ordering all the other searches you require. One system, all searches, less hassle.

Speeds up the application process for new customers which is suitable for face-to-face or back office decision.

No other Anti-Money Laundering Search or system provides such a complete range of protection searches and procedures. AML Search are approved and endorsed by one of the original authors of the JMLSG Guidance as being a CDD system that assists firms with their CDD compliance – No other Anti-Money Laundering System has this endorsement.

Ordering your Anti-Money Laundering Searches through the Pali system gives you peace of mind that you have done the necessary checks with access to extensive & unique data sources, including credit data. All AML Searches are fully compliant with ML Regulation’s, JMLSG & The Law Society.